The three out of four characters in this story are an old carpenter named John, his 18-year-old wife Alisoun, and an Oxford student named Nicholas who is staying with them.
Climax
He's asleep. Let's go
The story starts with the carpenter leaving town and Alisoun and Nicholas begin flirting. Nicholas grabs Alisoun, who threatens to cry out. Alisoun then agrees to sleep with Nicholas.
Falling Action
Nicholas comes up with a plan to sleep with Alisoun. He tells Alisoun to tell John he is ill. John sends a servant up to Nicholas's room and finds him staring at the ceiling. He tells John that he has a message from god and that there will be a flood twice the size of Noah's. He says that they must tie three tubs to the roof and bring an ax. When the water falls, they must cut the rope and pray until the flood ends.
Resolution
On Monday night, the night Nicholas said that the flood would happen, John, Nicholas, and Alisoun climb the roof and sit in the tubs waiting for the flood to come. John falls asleep and Nicholas and Alisoun sleep together
A man by the name of Absolon comes by demanding a kiss from Alisoun. Instead Alisoun sticks her butt out and he ends up kissing her naked arse. In anger, Absolon gets a branding iron and calls out to Alisoun again for a kiss. Nicholas, who was up to relieve himself, sticks his arse out and farts in Absolon's face. Nicholas gets branded on his behind.
Nicholas screams "Water! Water!" and wakes up John who thought it was the flood coming so he cuts the rope and falls off the roof, crashing into the ground. The townspeople have heard the commotion and had gathered around the man. He starts yelling about the prophesy Nicholas told him but Nicholas and Alisoun deny this and the townspeople laugh and go about their day.